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AI Analysis of FRME
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Weaker technical forecast for First Merchants Corporation as stock downgraded to Sell Candidate.
(Updated on Apr 26, 2024)

Sell candidate since Apr 26, 2024 PDF

The First Merchants Corporation stock price fell by -0.96% on the last day (Friday, 26th Apr 2024) from $34.46 to $34.13. During the last trading day the stock fluctuated 3.51% from a day low at $33.72 to a day high of $34.90. The price has fallen in 6 of the last 10 days but is still up by 3.11% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -14 thousand shares and in total, 226 thousand shares were bought and sold for approximately $7.72 million.

The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Merchants Corporation stock with a 90% probability to be traded between $32.18 and $34.75 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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FRME Signals & Forecast

The First Merchants Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $34.19. On a fall, the stock will find some support from the long-term average at approximately $33.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.62%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Buy
Special Signal Notification

Double Bottom Formation

Double Bottom Formation A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 6.26% to $36.27 within 21 trading days since signal was issued (Monday, April 29, 2024).

Support, Risk & Stop-loss for First Merchants Corporation stock

First Merchants Corporation finds support from accumulated volume at $34.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.18 (3.51%) between high and low. For the last week, the stock has had daily average volatility of 3.09%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FRME) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect First Merchants Corporation to open at $34.25, and during the day (based on 14 day Average True Range), to move between $33.19 and $35.07, which gives a possible trading interval of +/-$0.94 (+/-2.76%) up or down from last closing price. If First Merchants Corporation takes out the full calculated possible swing range there will be an estimated 5.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.23 (0.29%) than the support at $34.02 (0.32%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is First Merchants Corporation stock A Buy?

First Merchants Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.639 Sell Candidate Downgraded

Predicted Opening Price for First Merchants Corporation of Monday, April 29, 2024

Fair opening price April 29, 2024 Current price
$34.25 ( 0.349%) $34.13

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for FRME

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 35.43 3.81 %
R2 34.98 2.49 %
R1 34.70 1.67 %
Current price: 34.13
Support S1 33.80 -0.97 %
S2 33.52 -1.79 %
S3 33.07 -3.12 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 35.21 3.16 %
R2 35.06 2.72 %
R1 34.23 0.293 %
Current price 34.13
Support S1 34.02 -0.322%
S2 33.74 -1.14%
S3 32.78 -3.96%

FRME Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 29, 2024 Feb 29, 2024 Feb 29, 2024 $0 0%
2 Nov 09, 2023 Nov 30, 2023 Dec 15, 2023 $0.340 0.93%
3 Aug 08, 2023 Aug 31, 2023 Sep 15, 2023 $0.340 1.17%
4 May 10, 2023 Jun 01, 2023 Jun 16, 2023 $0.340 1.18%
5 Feb 07, 2023 Mar 02, 2023 Mar 17, 2023 $0.320 0.92%

FAQ

What is the symbol for First Merchants Corporation Stock and on which exchange is it traded?
The symbol for First Merchants Corporation is FRME and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell First Merchants Corporation Stock?
First Merchants Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy First Merchants Corporation Stock?
First Merchants Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy First Merchants Corporation Stock.

What's the current price of First Merchants Corporation Stock?
As of the end of day on the Apr 26, 2024, the price of an First Merchants Corporation (FRME) share was $34.13.

What is the 52-week high and low for First Merchants Corporation Stock?
The 52-week high for First Merchants Corporation Stock is $38.16 and the 52-week low is $24.56.

What is the market capitalization of First Merchants Corporation Stock?
As of the Apr 26, 2024, the market capitalization of First Merchants Corporation is 2.043B.

When is the next earnings date for First Merchants Corporation?
The upcoming earnings date for First Merchants Corporation is Jul 23, 2024.
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About First Merchants Corporation

First Merchants First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corpor... FRME Profile

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